Struggling Apple display Japan Display said Tuesday that it has finalized a deal to raise $200 million from an unnamed “overseas customer.” While the customer is unspecified, Reuters claims that it is Apple.
The $200 million fund will come from the customer buying equipment at Japan Display’s main smartphone screen factory in central Japan. Japan Display owed Apple upward of $800 million last year due to Apple spending $1.5 billion building a plant used for iPhones.
Beleaguered Apple display-maker Japan Display revealed Friday that it has agreed a $918.87 million bailout deal that will throw it a major lifeline as it attempts to claw its way back to profitability.
The money comes for Japanese investment fund, Ichigo Asset Management. Ichigo’s CEO will become Japan Display’s new chairman, while the deal will make Ichigo the company’s largest shareholder.
Struggling Apple display-maker Japan Display could sell Apple and Sharp its main smartphone screen factory, a new report claims.
Japan Display still owes Apple more than $800 million for the plant, which it built four years ago for $1.5 billion. It could recoup this money by selling the factory to partners including Cupertino.
Struggling Apple display maker Japan Display claims it has nailed down an extra $830 million in bailout financial support from Japanese asset manager Ichigo Asset Management.
Ichigo joins Apple and Apple contract manufacturer Wistron in the effort to save the beleaguered business. And it wouldn’t have done it without Cupertino’s support.
There’s more bad news for struggling Apple display-maker Japan Display. After news of a former executive embezzling funds, the company has announced that it will be reviewing its past earnings.
That’s a major headache at a time when the ailing business is trying to raise 50 billion yen ($460 million) from Apple and other investors.
Apple display-maker Japan Display may be struggling — but one of its executives apparently hasn’t been. The firm revealed today that it fired an accounting executive last year for allegedly embezzling $5.3 million over four years.
Japan Display is now cooperating with police in a criminal investigation of the unnamed employee.
Apple has reportedly agreed shorter payment terms with struggling display-maker Japan Display (JDI). It is part of a plan to help stabilize the company following years of financial troubles.
The deal comes after Apple agreed to cough up as much as $200 million as part of bailout to keep JDI afloat.
Apple has reportedly doubled its investment in struggling iPhone screen-maker Japan Display (JDI).
CEO Minoru Kikuoka expects the deal to be completed this month. It comes after an ¥80 billion ($750 million) bailout deal fell through in late September when the largest investor pulled its funding.
An effort to save struggling LCD manufacturer Japan Display (JDI) has reportedly been scrapped.
The firm leading the bailout with a ¥63 billion ($557 million) investment this week pulled out of a potential deal, according to people familiar with the matter.
The future of JDI now looks uncertain — but strong demand for iPhone 11 is helping its bottom line.
Struggling Apple display maker Japan Display is trying to reconfigure its business to develop OLED displays, instead of LCD ones. However, according to CEO Winston, it’s going to take at least two years until they’re ready.
The displays will reportedly be manufactured at Japan Display’s Hakusan plant in Japan’s Ishikawa Prefecture.
